Avanta India adds 10,000 sq ft co-working space at its Nehru Place premises

financialexpress.com:

Avanta India, India’s leading co-working space provider, is on an expansion spree. It has acquired a new space spread across a 10,000 sq. ft area at its Nehru Place premises due to an increase in demand.

This will translate into 150 additional seats. It is part of Avanta’s aggressive strategy to add 50,000 sq ft of space in the next 6-12 months. The roughly INR 2-crore deal has been brokered with the help of the property advisory firm CBRE.

Avanta is a leading player in the co-working and shared space segment in Delhi- NCR, with 6 premier business centers. In 2008, Avanta opened its first business centre at Statesman House at Barakhamba Road and today it has a robust presence in Delhi with other locations like Saket, Nehru Place and KG Marg.

Avanta has been growing at a staggering pace, expanding its wings in the national capital’s evolving shared office space market. Avanta’s latest addition will have all the best-in-class amenities like its other business centres.

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“As the Indian economy is set to grow in the times to come, office leasing is picking up fast. There is an increased demand for shared office spaces as they are more affordable and nurture better networking & collaboration between employees. The nature of demand is multifaceted. Besides big enterprises & consulting houses, start-ups, SMBs, and banking institutions, all are showing great interest in the segment,” said Nakul Mathur, MD, Avanta.

While demand for the co-working space is likely to pick up fast, the supply lines will also expand. As per a JLL report, India is home to more than 1000 co-working facilities and is amongst the fastest-growing markets in the world. The segment is